New Risk • Jun 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 55% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings have declined by 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹9.06b market cap, or US$94.7m). Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹3.80 (vs ₹1.47 in FY 2025) Full year 2026 results: EPS: ₹3.80 (up from ₹1.47 in FY 2025). Revenue: ₹20.5b (up 18% from FY 2025). Net income: ₹478.3m (up 159% from FY 2025). Profit margin: 2.3% (up from 1.1% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • May 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 36% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.9% average weekly change). Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹78.99, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 21x in the Chemicals industry in India. Total returns to shareholders of 19% over the past three years. Announcement • May 13
Bodal Chemicals Limited to Report Fiscal Year 2026 Results on May 21, 2026 Bodal Chemicals Limited announced that they will report fiscal year 2026 results on May 21, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹60.67, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 20x in the Chemicals industry in India. Total loss to shareholders of 8.4% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹54.65, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 21x in the Chemicals industry in India. Total loss to shareholders of 5.4% over the past three years. New Risk • Mar 15
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 36% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹5.45b market cap, or US$58.9m). Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: ₹0.02 (vs ₹0.43 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.02 (down from ₹0.43 in 3Q 2025). Revenue: ₹5.05b (up 14% from 3Q 2025). Net income: ₹2.42m (down 96% from 3Q 2025). Profit margin: 0% (down from 1.2% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Feb 05
Bodal Chemicals Limited to Report Q3, 2026 Results on Feb 14, 2026 Bodal Chemicals Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 14, 2026 Buy Or Sell Opportunity • Feb 03
Now 26% overvalued Over the last 90 days, the stock has fallen 13% to ₹53.04. The fair value is estimated to be ₹42.13, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 57%. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 96% in the next year. Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹0.47 (vs ₹0.02 loss in 2Q 2025) Second quarter 2026 results: EPS: ₹0.47 (up from ₹0.02 loss in 2Q 2025). Revenue: ₹5.00b (up 17% from 2Q 2025). Net income: ₹59.9m (up ₹62.4m from 2Q 2025). Profit margin: 1.2% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Nov 05
Bodal Chemicals Limited to Report Q2, 2026 Results on Nov 12, 2025 Bodal Chemicals Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Price Target Changed • Oct 22
Price target increased by 12% to ₹107 Up from ₹95.50, the current price target is provided by 1 analyst. New target price is 76% above last closing price of ₹60.88. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₹4.60 for next year compared to ₹1.47 last year. Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₹0.76 (vs ₹0.09 loss in 1Q 2025) First quarter 2026 results: EPS: ₹0.76 (up from ₹0.09 loss in 1Q 2025). Revenue: ₹4.58b (up 8.6% from 1Q 2025). Net income: ₹95.3m (up ₹107.1m from 1Q 2025). Profit margin: 2.1% (up from net loss in 1Q 2025). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Aug 12
Bodal Chemicals Limited, Annual General Meeting, Sep 26, 2025 Bodal Chemicals Limited, Annual General Meeting, Sep 26, 2025. New Risk • Aug 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.59b (US$98.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹8.59b market cap, or US$98.0m). Announcement • Aug 06
Bodal Chemicals Limited to Report Q1, 2026 Results on Aug 12, 2025 Bodal Chemicals Limited announced that they will report Q1, 2026 results on Aug 12, 2025 Buy Or Sell Opportunity • Jun 25
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to ₹74.24. The fair value is estimated to be ₹61.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Earnings per share has declined by 98%. Revenue is forecast to grow by 31% in 2 years. Earnings are forecast to grow by 337% in the next 2 years. New Risk • Jun 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.46b (US$97.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹8.46b market cap, or US$97.6m). New Risk • Jun 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Large one-off items impacting financial results. Price Target Changed • May 30
Price target increased by 7.3% to ₹95.50 Up from ₹89.00, the current price target is an average from 2 analysts. New target price is 28% above last closing price of ₹74.55. Stock is up 5.1% over the past year. The company is forecast to post earnings per share of ₹4.90 for next year compared to ₹1.47 last year. Reported Earnings • May 28
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹1.47 (up from ₹0.51 in FY 2024). Revenue: ₹17.6b (up 26% from FY 2024). Net income: ₹185.0m (up 186% from FY 2024). Profit margin: 1.1% (up from 0.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 47%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • May 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 34% to ₹76.35. The fair value is estimated to be ₹63.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 97%. Revenue is forecast to grow by 32% in 2 years. Earnings are forecast to grow by 1,054% in the next 2 years. Announcement • May 21
Bodal Chemicals Limited to Report Fiscal Year 2025 Results on May 27, 2025 Bodal Chemicals Limited announced that they will report fiscal year 2025 results on May 27, 2025 New Risk • Apr 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Reported Earnings • Feb 11
Third quarter 2025 earnings released: EPS: ₹0.43 (vs ₹0.08 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.43 (up from ₹0.08 in 3Q 2024). Revenue: ₹4.43b (up 31% from 3Q 2024). Net income: ₹54.2m (up 455% from 3Q 2024). Profit margin: 1.2% (up from 0.3% in 3Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • Feb 03
Bodal Chemicals Limited to Report Q3, 2025 Results on Feb 10, 2025 Bodal Chemicals Limited announced that they will report Q3, 2025 results on Feb 10, 2025 Buy Or Sell Opportunity • Jan 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to ₹66.88. The fair value is estimated to be ₹85.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 88%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 4,606% in the next 2 years. New Risk • Dec 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.54b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (₹8.54b market cap, or US$99.9m). Buy Or Sell Opportunity • Dec 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ₹68.39. The fair value is estimated to be ₹86.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 88%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 4,606% in the next 2 years. Reported Earnings • Nov 15
Second quarter 2025 earnings released: ₹0.02 loss per share (vs ₹0.09 profit in 2Q 2024) Second quarter 2025 results: ₹0.02 loss per share (down from ₹0.09 profit in 2Q 2024). Revenue: ₹4.34b (up 31% from 2Q 2024). Net loss: ₹2.42m (down 120% from profit in 2Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Oct 31
Bodal Chemicals Limited to Report Q2, 2025 Results on Nov 14, 2024 Bodal Chemicals Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Board Change • Aug 24
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Rohit Maloo was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 14
Bodal Chemicals Limited, Annual General Meeting, Sep 24, 2024 Bodal Chemicals Limited, Annual General Meeting, Sep 24, 2024. Announcement • Aug 09
Bodal Chemicals Limited to Report Q1, 2025 Results on Aug 14, 2024 Bodal Chemicals Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Announcement • May 25
Bodal Chemicals Limited Decides to Permanently Stop Production Activities at the Manufacturing Facilities of Unit-1, Unit3 and Unit-4 Located at Vatva Gidc, Ahmedabad, Gujarat Bodal Chemicals Limited decided to permanently stop production activities at the manufacturing facilities of Unit-1, Unit3 and Unit-4 located at Vatva GIDC, Ahmedabad, Gujarat. The company has manufacturing facilities of Dye Intermediate and Dyestuffs at Unit 1, Dye Intermediate at Unit 3 and Dyestuffs at Unit 4 respectively. These are small and very old plants constructed between 1989 to 1993. Due to technological changes these plants are no longer economically viable. Operating capacity has been very low at these plants for the last several years. Further, the Company has already increased capacity by doing debottlenecking for Dye Intermediate at UNIT 6 and UNIT 7. Hence, it will not result in any major production loss for the company. Overall efficiency will improve due to the reduction of fixed overheads. Furthermore, Company will dismantle said manufacturing facilities and it will lead to reduction of less than 3% in the total tonnage production capacity of the company. The Board of Directors has decided to dismantle manufacturing facilities of Unit- 10, located at Plot No: 525, Village: Dudhwada, Ta: Padra, Dist: Vadodara, Gujarat, as Company has decided to permanently stop production activities at the said unit for LABSA product due to non-viability of the product. No production has been carried out by the company at said unit in the last several years. Further, due to the dismantlement of this unit, there is no reduction in the total production capacity of the company. Announcement • May 19
Bodal Chemicals Limited to Report Fiscal Year 2024 Results on May 24, 2024 Bodal Chemicals Limited announced that they will report fiscal year 2024 results on May 24, 2024 Buy Or Sell Opportunity • Apr 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.8% to ₹77.80. The fair value is estimated to be ₹98.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 808% in the next 2 years. Buy Or Sell Opportunity • Apr 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.2% to ₹81.25. The fair value is estimated to be ₹102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 808% in the next 2 years. Buy Or Sell Opportunity • Mar 13
Now 24% undervalued The stock has been flat over the last 90 days, currently trading at ₹77.75. The fair value is estimated to be ₹102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 808% in the next 2 years. Announcement • Mar 07
Bodal Chemicals Limited announced that it expects to receive INR 214 million in funding Bodal Chemicals Limited announced a private placement of 10,000,000 of equity warrants at a price of INR 21.4 per warrant for the gross proceeds of INR 214,000,000 on March 6, 2024. The warrants will be convertible into common shares at an exercise price of INR 64.2 per share. The transaction will include participation from DIVYA MEHUL BHANSHALI for 116,825 warrants, DIMPLE ANIL BHANSHALI for 116,825 warrants, DEVANG CHANDRAKANTBHAI SHAH for 233,650 warrants, HARSHAD RASIKLAL SHETH for 116,825 warrants, NARENDRA MANSUKHLAL MEHTA HUF for 350,470 warrants and other investors. The transaction has been approved by the shareholders of the company. Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Rohit Maloo was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Feb 20
Now 20% undervalued Over the last 90 days, the stock has risen 11% to ₹81.50. The fair value is estimated to be ₹102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 983% in the next 2 years. Price Target Changed • Feb 16
Price target increased by 7.7% to ₹90.50 Up from ₹84.00, the current price target is an average from 2 analysts. New target price is 11% above last closing price of ₹81.45. Stock is up 27% over the past year. The company is forecast to post earnings per share of ₹0.60 for next year compared to ₹3.03 last year. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹0.08 (vs ₹0.19 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.08 (down from ₹0.19 in 3Q 2023). Revenue: ₹3.43b (up 8.7% from 3Q 2023). Net income: ₹9.75m (down 60% from 3Q 2023). Profit margin: 0.3% (down from 0.8% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Feb 07
Bodal Chemicals Limited to Report Q3, 2024 Results on Feb 13, 2024 Bodal Chemicals Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹0.09 (vs ₹0.78 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.09 (down from ₹0.78 in 2Q 2023). Revenue: ₹3.36b (down 15% from 2Q 2023). Net income: ₹12.4m (down 88% from 2Q 2023). Profit margin: 0.4% (down from 2.6% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Oct 20
Bodal Chemicals Limited to Report Q2, 2024 Results on Nov 06, 2023 Bodal Chemicals Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Announcement • Sep 29
Bodal Chemicals Limited Declares Dividend for the Fiscal Year 2023 Bodal Chemicals Limited at its AGM held on September 28, 2023, declared dividend INR 0.10 per equity share (5% on face value of INR 2) on equity shares for the fiscal year 2023. Upcoming Dividend • Sep 15
Upcoming dividend of ₹0.10 per share at 0.1% yield Eligible shareholders must have bought the stock before 22 September 2023. Payment date: 28 October 2023. Payout ratio is a comfortable 3.3% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.8%). Announcement • Sep 05
Bodal Chemicals Limited Proposes Final Dividend for the Financial Year 2022-23 Bodal Chemicals Limited at its AGM to be held on 28th day of September 2023 proposed to declare dividend INR 0.10 per equity share (5% on FV of INR 2) on equity shares for the financial year 2022-23. Price Target Changed • Aug 17
Price target increased by 11% to ₹90.00 Up from ₹81.00, the current price target is provided by 1 analyst. New target price is 26% above last closing price of ₹71.20. Stock is down 23% over the past year. The company is forecast to post earnings per share of ₹0.90 for next year compared to ₹3.03 last year. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹0.18 (vs ₹1.95 in 1Q 2023) First quarter 2024 results: EPS: ₹0.18 (down from ₹1.95 in 1Q 2023). Revenue: ₹3.32b (down 28% from 1Q 2023). Net income: ₹22.1m (down 91% from 1Q 2023). Profit margin: 0.7% (down from 5.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Aug 12
Bodal Chemicals Limited, Annual General Meeting, Sep 28, 2023 Bodal Chemicals Limited, Annual General Meeting, Sep 28, 2023. Announcement • Aug 01
Bodal Chemicals Limited to Report Q1, 2024 Results on Aug 11, 2023 Bodal Chemicals Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹77.85, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 46% over the past three years. Reported Earnings • Jun 01
Full year 2023 earnings released: EPS: ₹3.03 (vs ₹8.79 in FY 2022) Full year 2023 results: EPS: ₹3.03 (down from ₹8.79 in FY 2022). Revenue: ₹15.9b (down 23% from FY 2022). Net income: ₹380.3m (down 65% from FY 2022). Profit margin: 2.4% (down from 5.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year. Announcement • May 31
Bodal Chemicals Limited Recommends Final Dividend for the Financial Year 2022-23 The board of directors of Bodal Chemicals Limited at its meeting held on May 30, 2023, Board of Directors has recommended final dividend @ INR 0.10 paisa per equity share (i.e. 5%) on the face value of INR 2 per share, for the financial year 2022-23. Announcement • May 25
Bodal Chemicals Limited to Report Q4, 2023 Results on May 30, 2023 Bodal Chemicals Limited announced that they will report Q4, 2023 results on May 30, 2023 Price Target Changed • May 15
Price target decreased by 40% to ₹85.00 Down from ₹141, the current price target is provided by 1 analyst. New target price is 24% above last closing price of ₹68.50. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₹2.64 for next year compared to ₹8.79 last year. Announcement • Feb 15
Bodal Chemicals Limited Decides to Dismantle Manufacturing Facilities of Unit- 2 Bodal Chemicals Limited announced that at its board meeting held on February 14, 2023, the board of directors have decided to dismantle manufacturing facilities of UNIT- 2, located at Plot No. 123-124, Phase-1, G.I.D.C., Vatva, Ahmedabad-382445 as Company has decided to permanently stop production activities at the said unit. Unit 2 is a small unit and not viable for the company to carry out production activities. Hence, no major production has been carried out by company at said unit in last several years. Further, due to dismantle of this unit, there is no reduction in total production capacity of the company. Announcement • Feb 07
Bodal Chemicals Limited to Report Q3, 2023 Results on Feb 14, 2023 Bodal Chemicals Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹0.78 (vs ₹2.06 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.78 (down from ₹2.06 in 2Q 2022). Revenue: ₹3.97b (down 15% from 2Q 2022). Net income: ₹102.7m (down 59% from 2Q 2022). Profit margin: 2.6% (down from 5.4% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 15
Upcoming dividend of ₹0.80 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 26 October 2022. Payout ratio is a comfortable 9.5% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.7%). Reported Earnings • Aug 10
First quarter 2023 earnings released: EPS: ₹1.95 (vs ₹2.44 in 1Q 2022) First quarter 2023 results: EPS: ₹1.95 (down from ₹2.44 in 1Q 2022). Revenue: ₹4.63b (up 9.7% from 1Q 2022). Net income: ₹238.7m (down 20% from 1Q 2022). Profit margin: 5.2% (down from 7.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • May 30
Full year 2022 earnings released: EPS: ₹8.79 (vs ₹3.43 in FY 2021) Full year 2022 results: EPS: ₹8.79 (up from ₹3.43 in FY 2021). Revenue: ₹20.5b (up 67% from FY 2021). Net income: ₹1.08b (up 157% from FY 2021). Profit margin: 5.3% (up from 3.4% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 13
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: ₹2.21 (up from ₹2.16 in 3Q 2021). Revenue: ₹5.62b (up 53% from 3Q 2021). Net income: ₹243.2m (down 8.3% from 3Q 2021). Profit margin: 4.3% (down from 7.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 17% share price gain to ₹130, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 19x in the Chemicals industry in India. Total returns to shareholders of 15% over the past three years. Upcoming Dividend • Sep 09
Upcoming dividend of ₹0.80 per share Eligible shareholders must have bought the stock before 16 September 2021. Payment date: 24 October 2021. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.7%). Reported Earnings • Aug 18
First quarter 2022 earnings released: EPS ₹2.44 (vs ₹1.60 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹4.22b (up 258% from 1Q 2021). Net income: ₹298.6m (up ₹494.0m from 1Q 2021). Profit margin: 7.1% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improved over the past week After last week's 16% share price gain to ₹121, the stock trades at a trailing P/E ratio of 37.4x. Average forward P/E is 32x in the Chemicals industry in India. Total returns to shareholders of 6.8% over the past three years. Reported Earnings • Jun 30
Full year 2021 earnings released: EPS ₹3.25 (vs ₹7.16 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹12.3b (down 11% from FY 2020). Net income: ₹419.8m (down 52% from FY 2020). Profit margin: 3.4% (down from 6.4% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Price Target Changed • May 15
Price target increased to ₹103 Up from ₹85.75, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹98.15. Stock is up 116% over the past year. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 23% share price gain to ₹82.60, the stock is trading at a trailing P/E ratio of 22.5x, up from the previous P/E ratio of 18.3x. This compares to an average P/E of 16x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 36%. Is New 90 Day High Low • Feb 20
New 90-day low: ₹68.50 The company is down 2.0% from its price of ₹70.15 on 20 November 2020. The Indian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 14% over the same period. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS ₹2.16 (vs ₹1.05 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹3.66b (up 12% from 3Q 2020). Net income: ₹265.1m (up 81% from 3Q 2020). Profit margin: 7.2% (up from 4.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 18% share price gain to ₹82.85, the stock is trading at a trailing P/E ratio of 32.2x, up from the previous P/E ratio of 27.3x. This compares to an average P/E of 18x in the Chemicals industry in India. Total return to shareholders over the past three years is a loss of 49%. Is New 90 Day High Low • Dec 28
New 90-day high: ₹82.85 The company is up 22% from its price of ₹68.05 on 29 September 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 19% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: ₹72.25 The company is up 3.0% from its price of ₹70.30 on 02 September 2020. The Indian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. 
